Italy’s leading energy firm, Eni, has officially greenlit the next stage of its substantial oil and gas venture off the coast of Côte d’Ivoire in West Africa. The company, alongside its partners Petroci and Vitol, has reached a Final Investment Decision (FID) for the Baleine project phase 3. This crucial step marks a significant advancement in the development of what is recognized as the largest hydrocarbon discovery ever made within the nation.
The comprehensive full-field Phase 3 development is set to substantially augment production capabilities. Envisioned under this phase is an increase in oil output from the current 60,000 barrels per day to a target of 150,000 barrels per day. Simultaneously, natural gas production is slated to rise from 80 million cubic feet per day to 200 million cubic feet per day. Crucially, all natural gas generated by the Baleine project phase 3 development will be directed towards meeting the domestic energy demands of Côte d’Ivoire. This strategic allocation is expected to bolster the country’s electricity generation capacity and provide vital support for its ongoing industrial expansion.
The Baleine project phase 3 development plan includes the integration of a new floating production, storage, and offloading (FPSO) unit. This unit is being engineered to uphold stringent standards of operational efficiency and safety, while simultaneously minimizing its environmental footprint. This approach aligns with global efforts towards more sustainable energy production.
This third stage of development continues the successful strategy of phased and fast-track implementation, a model that has defined the initial two phases of the Baleine project. This methodology has facilitated the commencement of early production, effectively optimizing costs and capitalizing on the existing infrastructure.
“Baleine is a testament to Eni’s exploration and production model, built on excellence in exploration activities, the ability to develop projects through a fast-track and phased approach, and a consistent commitment to sustainability, in continuous dialogue with the host country. This project reflects our commitment to strengthening energy security, supporting local economic development and advancing a lower-carbon energy future,” said Claudio Descalzi, Chief Executive Officer of Eni.
